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Kasargod: Man who defrauded banks by using fake documents held

  •   Sun, Mar 15 2015 07:30:01 AM

Stephan Kayyar

Daijiworld Media Network - Kasargod (SP)

Kasargod, Mar 15: In connection with a case in which loans amounting to over Rs 3.5 crore were raised from different banks by offering fake land documents as security, the policemen here have succeeded in arresting a resident of Uppal near here, who happens to be the main accused.


The arrested person is Saidu Gulzar Ahmed (58) from Majal, Uppala. Ahmed, with the help of some accomplices, had cheated banks though the above method in the year 2009.

Ahmed used to somehow create fake documents relating to landed properties, and make the bank officials believe that they are original papers. These documents were then pledged to the bank and loan was raised.

After the fraud came to light, the police had succeeded in arresting three persons who had been instrumental in playing this trick on banks along with Gulzar Ahmed.

Ahmed, who had been hiding in Mumbai, had come to his native place on Saturday morning. The police,who got advance information about his arrival, waited for him at Mangaluru railway station, and arrested him as soon as he alighted from the train.

The gang led by Ahmed had succeeded in convincing Manjeshwar branch of Canara Bank and Kasargod branches of Bank of Baroda and Karnataka Bank here to lend loans totalling about three and half crore rupees. The documents in question were created in different names.

The investigation had been taken up by Central Bureau of Investigation some months back. It is said that the arrested accused was working as driver in Mumbai.
  

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Comment on this article

  • Wilfred Crasta, Bela, Kasaragod.

    Mon, Mar 16 2015

    I think its DYSP Ranjith (Singham on Kasaragod) on front seat.

    DisAgree Agree [1] Reply Report Abuse

  • TP Bose, Kottayam

    Sun, Mar 15 2015

    ALL PROPERTY REGISTRATION TO BE LINKED WITH PAN NO.IF IT IS POSSIBLE WITH ALL BANK ACCOUNT THAT ALSO POSSIBLE.BANK CAN CONFIRM FACT FROM INFORMATION BANK.

    DisAgree Agree Reply Report Abuse

  • A.M Shaikh, Dubai, Belapu, Kaup

    Sun, Mar 15 2015

    "CROREPATHY"
    Travel by train from Mumbai to Mangaluru.

    DisAgree [1] Agree [1] Reply Report Abuse

  • sid, mangalore

    Sun, Mar 15 2015

    i thought minorities dont have to pay back loan ?? please inform siddu he will come up with a scheme

    DisAgree [7] Agree [13] Reply Report Abuse

  • Rudolf Rodrigues, Mangalore/Mumbai

    Sun, Mar 15 2015

    What due diligence was done by the respective banks 'legal departments' before doling out crores of rupees???

    Such types of cases are very common with PSU banks where the loan givers are mostly hand in glove with the fraudsters, so many such cases have recently been unearthed in metro cities like Mumbai!! No doubt the NPAs of PSU banks are fattening, all at the cost of the tax payers money!! Jai PSU banks!! Jai Hind!!

    DisAgree [2] Agree [14] Reply Report Abuse

  • Eric Coelho, Mangalore

    Sun, Mar 15 2015

    Banks believe in documents presented to them for loans or for Trade Finance. Having thorough knowledge in Trade Finance I remember how banks only believed in documents negotiated against LCs but actually there have been shipments where containers shipped with some other goods or fake goods and the beneficiary gets the payments resulting in huge loss to the LC applicant. For that SGS Cert, Bureau Veritas and Lloyds are used to ensure the right shipment against LC. But still LC applicant and Beneficiary insist on deleting the inspection certificate clause in LC by reputed firms to save a little money realising later that the LC applicant suffers huge loss. They say "Pennywise found foolish". It is just not Trade Finance defaults, Vehicle Loans, Housing Loans, Commercial Loans etc etc have not only destroyed banking sectors but also the economy wholly. To become rich you don't need intelligence or common sense but you need a crooked mind with a crooked tongue and with a crooked heart. Human body lies on these 3 issues.

    DisAgree [3] Agree [9] Reply Report Abuse

  • Rudolf Rodrigues, Mangalore/Mumbai

    Sun, Mar 15 2015

    Bro, these types of dubious activities are not one way, it is always in collusion with the other side, it is now common practice(majorly in PSU banks) if you see the number of defaulters, ultimately these losses are made NPAs all at the cost of the tax payers money!!! Jai Hind!!

    DisAgree [2] Agree [8] Reply Report Abuse

  • Kusuma Kumari G , Nellore/Kundpaura

    Sun, Mar 15 2015

    Fraud and fraudsters have no place in modern society. They must be taught alesson and arrested

    DisAgree [2] Agree [11] Reply Report Abuse


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